In this covid pandemic times all business whether small business or medium & Large business. But the Small & Medium Business such as MSMEs and startups, suffering under the Covid impact, have urged the government to extend the GST payment and return filing due dates deadlines for the month of March, April, and May to June 30, 2021. As per the various Gst community on social media platform reported in the survey's MSMEs & startups as much as 80 per cent respondents suggested extension of deadlines describing challenges faced in filing GST payments and returns filling for the month of March, April & May. Finance Minister Nirmala Sitharaman had provided a similar extension on ITR filing and GST return deadline last year but Unfortunately this time there is no hint.
“Small & Medium Business enterprises and new startups have been requesting to GST Department to provide a delay in GST payment and filing deadlines as in many states there have been curfew and lockdown restrictions that have been imposed since early or mid-April preventing them from meeting these deadlines but there is no relief provided to the GST taxpayers. All they want is that government should extend the deadline without penalty,”.
The Income tax department had already announced the extension of the deadline for payments under the Direct Tax Vivad Se Vishwas Act, 2020, and some compliances under the Income Tax Act by two months till June 30. The relief Provided to taxpayers, tax consultants, and other Interested Parties included, “Time limit for passing of any order for assessment or reassessment under the Income-tax Act, 1961 the time period for which is given U/s 153 or section 153B there of; & Time Period for passing an order consequent to direction of DRP under sub-section (13) of section 144C of the Act; period of time of notice U/s 148 of the Act for re-opening the assessment where income has escaped assessment; and period of time for sending intimation of processing of Equalization Levy under sub-section (1) of section 168 of the Finance Act 2016,” consistent with the Finance Ministry statement.
The All traders & Businessman Community had also demanded from the government to defer 11 GST compliances and 15 compliances under the Income Tax Act by 3 months. As per the reports federation, which represents about 8 crore traders Spanning 40,000 trade associations in India, returns including GSTR-3B, GSTR-1, GSTR-4, CMP-08, GSTR-5, GSTR-5A, GSTR-6, GSTR-7, and GSTR-8 have been due in April along side the maturity for issue of TDS certificate for tax deducted U/s 194-IA, IB, and 194M, a quarterly statement in respect of foreign remittances in form 15CC, furnishing form 3BB, form 24G, challan-cum-statement in respect of tax deducted U/s 194-IA, etc., of the tax Act.
